(NewsWorthy.news) – Robert F. Kennedy Jr. has warned that central bank digital currencies lead to an authoritarian government in America akin to China’s communist regime. At an event on March 22, the independent presidential candidate stressed that he is against CBDCs because of where the path leads.
Kennedy highlighted trucker protests in Canada against the limitation of freedoms caused by centralized digital banking and the government’s false portrayal of the protesters as far-right extremists in response. China’s communist government currently uses facial recognition systems and maintains a social credit score on its citizens so that those guilty of violating regulations may lose access to stores within a certain radius of their workplace or home. Kennedy also promised to end attempts to move toward a CBDC if elected, stressing the need to hold onto paper cash and claiming to listeners that they are better protected by Bitcoin.
Kennedy is not the only presidential candidate in the 2024 election to raise concerns about CBDCs; former President Donald Trump vowed that he would “never allow” the U.S. Federal Reserve to set up a CBDC when campaigning in New Hampshire. Kennedy also promised to end attempts to move toward a CBDC if elected. He stressed on X that cryptocurrency is the strongest defense against inflation, and praised it as the “perfect tool” for taking control of both the government and the banking system. Kennedy argued that cryptocurrency is a “hedge against inflation” that limits the power of a monopolistic system that moves money upward to billionaires while disadvantaging ordinary Americans. He vowed that, if elected, he would end the White House’s “war on Bitcoin” and both protect and actively encourage the currency.
Skeptics noted that Kennedy invests in cryptocurrency; the candidate spoke at the Bitcoin 2023 industry conference in May and said to the crowd that he was not an investor or there to advise on investment. The following month, however, his financial disclosure revealed that his family owned $100,000-$250,000 in Bitcoin.
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